GBP/JPY - British Pound Yen, European Session - 09/07/09

By IBT Staff Reporter On 07/09/09 AT 6:49 AM

150,88. GBP JPY is in an downtrend directed by 1H exponential moving averages. GBP JPY is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 4H (Mataf Trend Indicator) is in a bearish configuration. daily ForexSto (Modified Stochastic) indicate a bearish pressure on GBP JPY. The price should find a resistance below 151,25 (37 pips). The downtrend should continue to gather momentum.